OLD National Bancorp IN Lowers Stake in Edwards Lifesciences Co. (NYSE:EW)

OLD National Bancorp IN lowered its stake in shares of Edwards Lifesciences Co. (NYSE:EW) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 190,077 shares of the medical research company’s stock after selling 808 shares during the period. OLD National Bancorp IN’s holdings in Edwards Lifesciences were worth $12,543,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EW. Resonant Capital Advisors LLC lifted its holdings in shares of Edwards Lifesciences by 6.3% during the 3rd quarter. Resonant Capital Advisors LLC now owns 3,132 shares of the medical research company’s stock valued at $207,000 after purchasing an additional 186 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of Edwards Lifesciences by 59.4% during the 3rd quarter. Blue Trust Inc. now owns 8,049 shares of the medical research company’s stock valued at $531,000 after purchasing an additional 2,998 shares during the last quarter. Net Worth Advisory Group purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $437,000. Aaron Wealth Advisors LLC purchased a new stake in shares of Edwards Lifesciences during the 3rd quarter valued at $273,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Edwards Lifesciences by 10.6% during the 3rd quarter. V Square Quantitative Management LLC now owns 15,026 shares of the medical research company’s stock valued at $992,000 after purchasing an additional 1,437 shares during the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on EW shares. Canaccord Genuity Group decreased their price objective on Edwards Lifesciences from $77.00 to $66.00 and set a “hold” rating for the company in a report on Monday, October 7th. JPMorgan Chase & Co. downgraded Edwards Lifesciences from an “overweight” rating to a “neutral” rating and cut their target price for the company from $105.00 to $72.00 in a research report on Thursday, July 25th. Daiwa Capital Markets raised Edwards Lifesciences from a “neutral” rating to an “outperform” rating in a research report on Wednesday, July 31st. Robert W. Baird downgraded Edwards Lifesciences from an “outperform” rating to a “neutral” rating and cut their target price for the company from $102.00 to $70.00 in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group cut their target price on Edwards Lifesciences from $107.00 to $91.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Fifteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $75.81.

Edwards Lifesciences Price Performance

NYSE:EW opened at $70.27 on Friday. Edwards Lifesciences Co. has a 52 week low of $58.93 and a 52 week high of $96.12. The company has a quick ratio of 2.87, a current ratio of 3.71 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $42.34 billion, a PE ratio of 30.29, a price-to-earnings-growth ratio of 2.83 and a beta of 1.13. The stock’s 50-day moving average price is $67.81 and its 200-day moving average price is $79.18.

Edwards Lifesciences (NYSE:EW) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.65 billion. Edwards Lifesciences had a net margin of 24.55% and a return on equity of 22.35%. Edwards Lifesciences’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company posted $0.66 EPS. As a group, equities analysts expect that Edwards Lifesciences Co. will post 2.71 EPS for the current fiscal year.

Insider Activity at Edwards Lifesciences

In related news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at approximately $3,101,530.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Edwards Lifesciences news, VP Donald E. Bobo, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $66.08, for a total value of $330,400.00. Following the transaction, the vice president now directly owns 46,936 shares of the company’s stock, valued at $3,101,530.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Daveen Chopra sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of $69.95, for a total transaction of $87,437.50. Following the completion of the transaction, the vice president now directly owns 29,333 shares in the company, valued at $2,051,843.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,250 shares of company stock valued at $1,099,238. 1.29% of the stock is owned by corporate insiders.

Edwards Lifesciences Profile

Edwards Lifesciences Corporation provides products and technologies for structural heart disease and critical care monitoring in the United States, Europe, Japan, and internationally. It offers transcatheter heart valve replacement products for the minimally invasive replacement of aortic heart valves under the Edwards SAPIEN family of valves system; and transcatheter heart valve repair and replacement products to treat mitral and tricuspid valve diseases under the PASCAL PRECISION and Cardioband names.